Ethylbenzene Market To Grow USD 23620 Million by 2028 with a CAGR of 3.4% | Valuates Reports

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BANGALORE, India, Oct. 31, 2022 /PRNewswire/ -- Ethylbenzene Market is estimated to be worth USD 19320 million in 2022 and is forecast to a readjusted size of USD 23620 million by 2028 with a CAGR of 3.4% during the review period.

Ethylbenzene Market is Segmented by Type (AlCl3 Liquid Hydrocarbon Method, Zeolite Gas Catalystic Method, Zeolite Liquid Catalystic Method), By Application (Styrene Production, Chemical Production, Other): Opportunity Analysis and Industry Forecast, 2022–2028. It is published in Valuates Reports under the Chemicals Industry Category.

Major Factors Driving the Growth of Ethylbenzene Market

The increase in demand for ethylbenzene, which is widely used in the production of styrene, is attributed to its outstanding characteristics, such as lightweight, high solidity, and infusion shaping capacity, for a variety of applications in sectors, including the paints and coatings sector. Additionally, it is a highly combustible chemical that is widely used as a key component in the reactant dehydrogenation process that produces polystyrene. These factors are expected to drive the growth of Ethylbenzene market.

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TRENDS INFLUENCING THE GROWTH OF THE ETHYLBENZENE MARKET

The Ethylbenzene Market is anticipated to be driven by rising ethylbenzene use in styrene manufacturing. In a high-temperature, low-pressure gas-phase adiabatic reactor, ethylbenzene is dehydrogenated to produce styrene. Chemical processing industries, such as the rubber and plastics sectors, expose workers to ethylbenzene. The product specification for ethylbenzene is intended to offer an adequate feedstock for the synthesis of styrene because it is nearly entirely used to make this chemical. The manufacturing of styrene, which starts with ethylbenzene, accounts for about 50% of the global benzene output.

Because of its anti-knock qualities, Ethylbenzene has been introduced to motor and aviation fuels. Due to its use as a solvent, a component of aviation and automobile fuels, and in several chemical production and industrial processes, ethylbenzene is widely dispersed in the environment. This feature is anticipated to fuel the ethylbenzene market even more.

Styrene, which is the primary component of the chemical compound, is then used to make polystyrene and other adhesives, as well as resins that are used in packaging and consumer goods. The other types of resins are unsaturated polyester resins, acrylonitrile-butadiene-styrene (ABS) and styrene-acrylonitrile (SAN) resins, as well as styrene-butadiene elastomers and latexes. During the projected period, the requirement for efficient packaging will expand due to rising consumption and a growing population, which will drive up demand for the ethylbenzene market.

Industrial applications for end users Insecticides, pesticides, and sprays for agricultural crops all use ethylbenzene. These chemical substances are present in inks, paints, varnishes, coatings, and stain removers. The Ethylbenzene market will expand over the course of the assessment period as a result of its widespread usage across a number of industry verticals.

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ETHYLBENZENE MARKET SHARE ANALYSIS:

Based on type, the styrene segment will witness huge growth in the ethylbenzene market share. The main factors influencing the growth of the ethylbenzene market are the rising demand for styrene from various end-user industries and the rising use of ethylbenzene in the recovery of natural gas.

Based on region, Asia-Pacific will provide lucrative growth opportunities in the Ethylbenzene market share. Due to expanding e-commerce and online food and beverage services, Asia-Pacific currently controls most of the global ethylbenzene market.

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Key Companies:

• Chevron Philips Chemical Company
• LyondellBasell Industries Holdings
• Synthos S.A
• Total
• Versalis
• Carbon Holdings
• Changzhou Dohow Chemical
• Shell
• Qufu Xindi Chemical Research Limited Company

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